Hexagon Capital Partners LLC Raises Stake in Caterpillar Inc. (NYSE:CAT)

Hexagon Capital Partners LLC increased its stake in Caterpillar Inc. (NYSE:CAT) by 7.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,653 shares of the industrial products company’s stock after buying an additional 174 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Caterpillar were worth $784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Gilfoyle & Co LLC bought a new stake in Caterpillar in the 4th quarter valued at about $30,000. Fortitude Family Office LLC bought a new stake in Caterpillar in the 4th quarter valued at about $39,000. Authentikos Wealth Advisory LLC bought a new stake in Caterpillar in the 3rd quarter valued at about $41,000. Rational Advisors LLC bought a new stake in shares of Caterpillar during the third quarter valued at about $42,000. Finally, Milestone Investment Advisors LLC bought a new stake in shares of Caterpillar during the third quarter valued at about $44,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Stock Down 4.4 %

CAT traded down $15.23 during trading on Tuesday, reaching $334.57. The stock had a trading volume of 4,189,127 shares, compared to its average volume of 2,513,906. The stock’s 50 day moving average is $351.08 and its two-hundred day moving average is $302.22. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $167.08 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 1.52 and a beta of 1.17. Caterpillar Inc. has a one year low of $205.60 and a one year high of $382.01.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $16.07 billion. As a group, analysts expect that Caterpillar Inc. will post 21.44 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.55%. Caterpillar’s payout ratio is presently 23.48%.

Insider Activity

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the completion of the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at $17,774,001.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the sale, the chief financial officer now directly owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Maclennan acquired 350 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the completion of the transaction, the director now directly owns 5,238 shares of the company’s stock, valued at $1,693,812.06. The disclosure for this purchase can be found here. Insiders sold 35,769 shares of company stock worth $11,508,906 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CAT. Robert W. Baird upped their price target on Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research report on Tuesday, February 6th. TD Cowen upped their price target on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial began coverage on Caterpillar in a research report on Thursday, March 14th. They set a “buy” rating and a $390.00 price target on the stock. Evercore ISI cut shares of Caterpillar from an “outperform” rating to an “in-line” rating and upped their price objective for the stock from $321.00 to $338.00 in a research report on Tuesday, February 20th. Finally, HSBC upped their price objective on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $323.35.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.